Table 1 Production Function and Demand for Labor Schedules Quantity of labor demanded ​(billions of hours per​ year) 0 2 4 Real GDP ​(billions of 2012​ dollars) 0 105 150 Real wage rate ​(2012 dollars per​ hour) 75 45 15         Table 2 Supply of Labor Schedule Quantity of labor supplied ​(billions of hours per​ year) 0 2 4 Real wage rate ​(2012 dollars per​ hour) 15 45 75     Use the information in the schedules above to draw this​ economy's production function. Label it.    Draw a point to show equilibrium employment and potential GDP.     At the​ full-employment quantity of​ labor, what is the real wage​ rate?   The real wage rate is ​$ an hour.

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